The PROBLEM with 2% Cash Back Credit Cards

Like, Comment, and Share my videos!

👇 👇 Watch My Other Videos Here 👇 👇
★ Fidelity Rewards (2% Cash Back) Credit Card Review
★ The Citi Trifecta / Quadfecta - Worth $590?
★ The Best Credit Card Strategy (No Annual Fees)

You can support my channel by shopping on Amazon!
Click the link below and then just buy anything you want!

📷 📷 My YouTube Equipment 📷 📷

================

📚 📚 Books That Changed My Life 📚 📚

================

Citi Double Cash Card

PayPal Cashback Mastercard

Fidelity Rewards Visa Signature Card

Schwab Investor Card from American Express

Wells Fargo Cash Wise Visa Card

Chase Freedom Unlimited Credit Card

Bank of America Travel Rewards Credit Card

American Express Cash Magnet Card

================

💯 LET’S CONNECT 💯
👥 Facebook @ [coming soon] 👉 [coming soon]
📧 E-mail me at: [coming soon]

================
#CreditCards #CashBackCards #NoAnnualFeeCards
================

DISCLAIMER:
This video is for entertainment purposes only. I am not in any way acting as an agent or representative of the Department of Defense or United States Federal Government when presenting this information. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.

ADVERTISER DISCLOSURE:

2% cash back credit cards, 2 percent cash back credit cards, fidelity credit card, cash back credit cards, citi doublecash review, citi doublecash credit card, paypal mastercard review, best cash back credit cards, Wells Fargo Cash Wise Visa Card, credit cards, best credit cards, paypal mastercard, fidelity rewards visa review, paypal credit card, Bank of America Travel Rewards Credit Card, chase freedom unlimited, american Express Cash Magnet Card, credit cards for beginners

[JakeBroe]

Thanks for watching everyone! Be sure to help out my channel by giving this video a like! More people will see and learn about 2% cards if you do!
Additionally, all three of these 2% cards have had limited time or targeted SUBs in the past. If you see them or use them, then great! But I think most average people who go for these cards take the public offers advertised and those don't include SUBs. People just have to be aware what they are giving up!

[stevewardlaw]

"The PROBLEM with 2% Cash Back Credit Cards" starts at 6:20

[donaldrobertson]

It's videos like these that earned my sub a few months back. You have a habit of forcing viewers to look at CC's from a different angle, looking past the marketing hype getting into how the math ACTUALLY works. Keep up the great content.

[Beekeeper]

Can we all just take a moment to appreciate Jake switching up his background for every video?

[DavidCrow]

You could frame this as "ongoing earnings take a long time to catch up with bonuses" in general. It all comes down to willingness to juggle accounts, amount being spent, and ability to get approved. Even the elusive 3% cash back cards aren't enough to offset someone willing and able to change cards every month.

[jamshed]

Hello Jake, this is one of the best videos I have watched on credit cards. Prior to watching this video, I had assumed that 2% cards are better than 1.5%, but failed to consider sign up bonus. Thank you Jake to make all of us wiser 👍.

[alexchen]

You touched briefly on the optimal solution. Sign up for a different Citi card with a good sign up bonus like the AA Platinum card and then product change it to the DCC card after on year.

[Alvin_]

This video is an example of why I jumped on the NFCU Flagship Rewards Visa when it had the 50K Point sign up bonus. That was a very useful $500. 2x miscellaneous and 3x travel.

[jakeweiskirch]

Get the citi premier and the 60k sign up bonus the. Downgrade to double cash

[MirandaH]

I am deciding between a 2% cash back card and the chase freedom unlimited for my next card. So glad I came across this video! I’ll definitely be going with the chase now.

[juliasanchez]

I make/spend so little I knew I wouldn't make the minimum for the bonus so I just went with the 2% instead

[MayrahC]

Hi Jake! The Fidelity Rewards CC currently has a $100 sign up bonus w/1k spend in 90 days. Saw it when I log into my Fidelity app on my phone.
Also, the PenFed CC is offering $100 bonus on a 1.5k spend.

[mikefeir]

I thought you were going to touch on the best strategy at the end but I think it was still unclear. The best strategy is get the 2% cash back card as a base credit card then cycle through the sign up bonus cards, using them only until the sign up bonus spending is met, then moving back to the 2% cash back card once you’ve secured the sign up bonus. (Obviously only spending on things you would be spending on anyways and not spending just to get the bonus). This way you get the good return on your spend from the sign up bonus then you also get the better 2% return when you move back to the 2% cash back card

[anvilhammer]

Hey Jake, today's class illustrates why you are the CC Guru. Also, comments from Jake and Alex took this subject to the next level. Best original cc video. 🤯

[cfont]

Wow!!! This was impressive info! I was even considering the Citi 2% cashback card.

[rrt]

Don’t forget Langley Federal Credit Union Cash Back Visa, monthly rotating 5% categories plus 3% gas, 2% groceries. No annual fee.

[jattaya]

Nice take, I figure the other thing folks can keep in mind, is if you're in this game to use multiple cards earning 3-5+% then the amount of spend on the flat rate card would need an even longer break even. Spending just 25% of one's annual credit card spending on 5% cashback cards while earning a measly 1% on everything else alone, would break even with a 2% card. Earn 1.5%, or more than 5 %, things get even more interesting. 👍

[scottmitchell]

2% Citi did not handle a dispute I had on a scam charge. I could not believe they took the side of a shady merchant versus the long time customer. They do not really care about their customers.

[peoplesopinionschannel]

With the fidelity card. You can also fund your Roth IRA.

[dougn]

The city cash card has had up to a $150 sign up bonus and 15 months at 0%. The fidelity card also normally has a $100 sign up bonus. PayPal sends out targeted bonus. The pandemic is a different environment economically, and the banks don't want to extend credit. Especially because to get the Bonus it's spend money to get money.